Highlighting how quickly a headline can shift the intraday narrative, equity futures were pointing towards a positive open first thing. But conflicts produce unexpected outcomes, and Israel’s attack on Iran’s South Pars gas field allowed Iran to respond by vowing reciprocity. Crude, which was trading below $95, immediately jumped, leading to a fast drop in S&P futures. It did not get better the rest of the session. Investors are wary about higher prices and today’s main economic data release ce…
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